The recent earthquake may have made you pause and think -- if there was damage to my property as a result of an earthquake, would I be able to handle the cost of repairs? Does my homeowner’s insurance policy cover this? If not, should I buy earthquake insurance?

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Here are a few items to consider when answering these questions:

Earthquake coverage is not included in a standard condo, renters, or homeowner’s policy.

Deductible. There is a high separate percentage deductible -- the amount you have to pay before your insurance coverage will help cover costs. For example, let's say the home, just the building and not the contents or other coverage, is insured for $500,000. The deductible is generally 5-10 percent of your home’s insured amount. In this case it would $25,000 or $50,000. In this example, if your foundation is damaged you might not meet the deductible as the cost to repair may be less than the $25,000 or $50,000 deductible amount. Earthquake coverage is really a catastrophic coverage endorsement.

Personal possessions. Contents are subject to the same deductible as applied to the structure. Scheduled contents -- contents specifically listed or endorsed -- will not be subject to the high deductible.

Exclusions. The coverage may not include damage to landscaping, pools, fences, and separate structures.

Loss of use. A standard homeowner’s policy that has been endorsed with earthquake coverage will pay to put you up in alternative lodging if your home is damaged, unlivable and in the process of repair.

Cost of coverage. Earthquake coverage cost varies greatly depending upon the region of the country your home is in. It is best to call for a quote.

Catastrophic claims. Total loss claims from fire are common, but they are rare with earthquakes. Homeowners are more likely to lose unreinforced masonry, such as chimneys, brick walls and fascia than have a total loss.

To determine if you should purchase earthquake insurance, we suggest you contact your property casualty agent for further details unique to your situation and before making the purchase, review the coverage carefully. Determine what exactly is covered before you buy.